PwC’s Asset & Wealth Management practice is pleased to publish the results from ourAsset & Wealth Management Benchmarking Insights Series for Alternatives.

Our benchmarking series is designed to gather, analyze and share informationabout key industry trends and metrics. This report summarizes industry practices related to alternative fund assetmanagement companies.

Throughout the report we may bifurcate responses for larger and smaller alternative fund asset management companies where relevant. Largerand smallerparticipants are defined as those with greater than $5 billion, and $5 billion or lessassets under management (AUM), respectively.

The information reflected in this report leverages the knowledge and experience garnered from providing audit and tax services to leading alternative fund asset management companies. Our alternative fund asset management companies report captures information from approximately 30 US based alternative fund asset management companies across various product types and strategies representing over $740billion of AUM. Participants primarily have calendar year ends and include a of combination strategies such as hedge, private equity, credit, and venture capital.

Because of the diverse nature of alternative asset managers, these results should not be considered representative of all alternative fund asset management companies. Furthermore, many of the concepts in this report are influenced by the specific facts and circumstances of each participant. Accordingly, these results should be viewed as directional, rather than authoritative, and do not necessarily represent practices that are applicable in all situations. Should you have any questions about the data herein we encourage you to reach out to our team. Refer to the back of the report for our contact information.

We hope that you find this report interesting and useful as you evaluate your organization on the topics highlighted herein.